Since VeChain's rebranding in 2018, expectations of VeChain have been high. Especially in the bull run of 2020-2021, VeChain's price has been able to benefit. Since then, the price has fallen more than 94% from its all-time high. What is the VeChain price prediction for the coming years? Is buying VeChain in 2024 wise?
Table of Contents
- VeChain prediction 2024
- VeChain long-term price prediction
- Realistic VeChain prediction
- Current VeChain exchange rate
- What is VeChain?
- VeChain price history
- Overview of VET price history
- Can the Vechain price become 1 euro?
- Other price predictions
- Analysts at DigitalCoinPrice predict that VeChain will rise to €0.20 in the next few years
- Most analysts indicate VeChain is going to rise in the future
- Bitcoin halving has often had a positive impact on the price of Altcoins in the past, the upcoming halving is expected in April 2024
- The continued adoption of the Vechain platform by businesses may result in growing demand for the VET token
- Predictions should always be approached with caution, as the price of cryptocurrencies is extremely difficult to predict
VeChain prediction 2024
Making a VeChain forecast in the short term remains a challenge because of the volatility of the crypto market and various variables that affect the price. Therefore, making a VeChain prediction is very difficult. Nevertheless, there are companies that do price forecasts. For example, experts at DigitalCoinPrice indicate that the VeChain price could reach a maximum price of €0.0577 by 2024. Indeed, VeChain has proven to be of great value to various companies by helping them improve their efficiency, transparency and reliability. This provides a positive foundation for further growth. The continued adoption of the Vechain platform by companies may lead to increasing demand for the VET token.
VeChain's (VET) plans to expand into other sectors and partner with more companies may also help increase acceptance and use of their technology. This may lead to an increase in demand for VET. Moreover, given the support of major investors and partners, there is confidence in the future of the project. Investors may continue to believe in VeChain's growth potential, which may contribute to price increases.
On the other hand, it is important to note that the crypto market is unpredictable and subject to various factors, including market sentiment, regulations and macroeconomic events. Therefore, one should always be cautious and do their own research before investing.
In short, although it is difficult to establish specific price expectations, there are positive indicators for VeChain (VET) in 2024 based on their technological value, future plans and investor support.
VeChain long-term price prediction
Are you considering long-term VeChain (VET) investment? Then it might be worth checking out what experts say about the long-term VeChain prediction. Below are the minimum, average and highest VeChain prices per year, according to data from DigitalCoinprice as of February 2, 2024. In general, these are often positive prediction. Be aware that a prediction does not immediately mean it will happen, one should take the forecasts with a grain of salt.
Vechain prediction 2024
Analysts are optimistic about the VeChain (VET) price for 2024 and expect VeChain to rise to an average of €0.0533, representing an impressive increase of about 101% over the current price. Moreover, the predicted Bitcoin halving in the same year could result in a peak of €0.0577. History has often shown that after this halving an Altcoin, such as Vechain, starts to rise.
Vechain prediction 2025
In 2025, the Vechain (VET) price is expected to break through the €0.0567 barrier, with a predicted average price increase to €0.0634, an increase of about 140% from the current price. This is stated in their forecast for VET.
Vechain prediction 2026
An impressive VeChain forecast is expected for the end of 2026, for example, it is expected to rise about 247% from its current level, with an average price of €0.0918. The experts at DigitalCoinPrice expect VeChain (VET) to rise to this price, with an expected peak of €0.0952 in that year.
Vechain prediction 2027
The forecast for VeChain (VET) in 2027 shows that experts foresee an average price of €0.11. This would represent a significant increase of about 316% from the current price. Such growth figures suggest strong confidence in VeChain's potential, possibly driven by increasing adoption and technological advances within the blockchain sector.
Vechain prediction 2028
For 2028, the forecast for VeChain (VET) remains positive, with a consistent average price forecast of €0.11. This maintains substantial growth of about 316% from current value. Such stability in growth expectations can give investors a sense of confidence in VeChain's long-term prospects.
Vechain prediction 2029
VeChain (VET) is predicted to rise further in 2029, with the average price going to €0.14. This marks a significant increase of about 430% compared to the current price. If these predictions come true, this would indicate continued and strong growth for VeChain, possibly due to further developments and adoption of their technology in various industries.
Vechain price prediction 2030
According to experts at DigitalCoinPrice, the VeChain price is going to rise over the next 7 years and cross the €0.20 mark, which would represent an incredible increase of about 619% over the current price. VeChain's price is predicted to be somewhere between €0.18 and €0.20. Keep in mind that cryptocurrency prices can show significant volatility. Data is based on information from DigitalCoinPrice updated February 2, 2024.
Realistic VeChain prediction
The cryptomarket moves in a rhythm of bull runs, in which the prices of digital currencies skyrocket thanks to a wave of optimism and hefty investments, alternating with bearmarkets, in which the values of even the top 100 cryptocurrencies can fall by as much as 80-90%.
Analysts and analysis firms like DigitalCoinPrice often predict that the crypto market will continue to grow, based on the idea that everything will only get better. If optimism remains high and investment continues to flow, these predictions could indeed come true. But, the crypto world has its ups and downs, as the Bitcoin halving shows, so we can expect both periods of growth and corrections. These fluctuations can challenge optimistic prediction quite a bit, depending on what stage of the market cycle we are in. Therefore, it is important for investors not only to assume continued growth, but also to be mindful of the potential risks and volatility. This is why we only write prediction for projects that have been around for several years.
At the time of writing, VeChain has lost 84,9% from its all-time high.
Current VeChain exchange rate
Whatever the VeChain prediction, it is always important to look at the current price when deciding to buy VeChain. VeChain's price can be different on different crypto exchanges. Check out the VeChain price in the chart below.
What is VeChain?
VeChain is a crypto that focuses on supply chain management for businesses and individuals. Its supply chain management solutions are built on the VeChain blockchain to ensure the legitimacy of products.
The founder of VeChain is Sunny Lu. He was previously CIO of Louis Viutton China and noticed that the fashion industry was struggling with counterfeit products that were difficult to distinguish from products of original brands. He saw the potential of blockchain technology as a good solution to tackle this problem. Sunny Lu therefore developed VeChain as a smart contract on Ethereum's blockchain in 2015.
The release of VEN tokens
A total of 1 billion VEN tokens were created. VEN is the predecessor of VET. More on the rebranding later. The VEN tokens were distributed as follows:
- 410 million (41% of the total) of the tokens were offered through a crowdsale;
- 90 million VEN tokens were sold through a private sale;
- Involved companies received 140.8 million (14%) VEN tokens;
- VeChain developers received 50 million (5%) of the tokens;
- Finally, the remaining 12% of the tokens were kept as reserves for ongoing developments.
During the crowdsale, not all the tokens on offer were sold. In fact, 133 million VEN tokens were not sold during the sale. The organisation decided to burn these tokens, reducing the total stock to 867 million tokens.
Rebranding from VEN token to VET coin
In 2018, a rebranding took place. VEN token became VET coin. The rebranding was accompanied by the introduction of a new blockchain project. VeChainThor was introduced and the entire network made the switch to the new blockchain. The total market supply was increased a hundredfold and holders of VEN tokens received 100 VET coins for every VEN token. Thus, the distribution of coins remained the same.
What impact did the rebranding have on the VeChain price?
The impact of the rebranding on the VeChain price was barely noticeable for VEN holders. As the number of coins was increased 100-fold, the VeChain price became worth 100x less, but the market cap remained the same. As mentioned earlier, for every VEN, each VEN holder received 100 VET coins, so the value in euros remained the same.
The VeChainThor blockchain uses the Proof-of-Authority (PoA) consensus algorithm. This way, the blockchain is secure and transactions can be processed and executed. Proof-of-Authority, like Proof-of-Stake, uses validators (or nodes) that are used to validate transactions on the network, without the need for heavy computers. The difference is in the authority Proof-of-Authority requires of its validators. To become a validator, you need to have a good reputation and this is determined by a number of conditions, which makes it very difficult to become a validator.
A validator is:
- Verified by the network;
- Trusted by the network;
- And chosen by the network.
VET and VTHO
As a VeChain holder, you can earn tokens in the form of a kind of VeChain Staking. The difference with staking is that you don't have to tie up your coins, just keep them in a wallet. In fact, you earn VeChain Thor (or VeTHor) tokens when you store VET in a wallet. VTHO is a (gas) token added during the transition to the VeChainThor blockchain.
What is the difference between VET and VTHO?
VET is the coin that represents the value of VeChain. VTHO on the other hand is the token used to pay transaction fees on the network. The two different tokens make VeChain a dual-token infrastructure and cannot exist without each other. Without VET, no VTHO tokens can be generated and without VTHO, no transactions can be executed. Hence, you can say that VeChain staking is part of the network even though the network uses the PoA consensus algorithm.
How much VTHO do you pay per transaction?
The transaction fees (or gas fees) in VTHO vary per transaction. Performing a simple transaction such as a P2P transaction will cost you 50 VTHO, while performing a smart contract will quickly cost you 800 VTHO in gas fees.
VeChain price history
VeChain price 2018
After the rebranding in 2018, expectations were high for VeChain. The rebranding took place at the end of the bull run in 2018, so the VeChain coin price did not take full advantage. Still, the coin showed a nice rise in a few months. In one month, the price rose from €0.0067 to €0.0197. An increase of almost 300%. Then the market completely turned into a bear market. The price fell to a low of €0.0033 per VET.
VeChain price 2019
2019 was an 'in-between year' for VeChain. The crypto market faced a big sell off at the end of 2018, but in 2019 the VeChain price stabilised and the VET price saw a sideways move for almost the whole year due to a lack of volatility. From February, we saw the price return to a small uptrend and until June, the coin managed to rise to €0.0092 per VET. Then the price reached a new low on 25 September. A price of €0.003 was reached.
VeChain price 2020
In 2020, the crypto market was gearing up for another bull run. VeChain was seen as a new market cap gem. VET coin reached a new all-time high in 2020. At the end of 2020, the VET price reached €0.0291. The coin is making a rally of more than 1300%. After all, on 17 March, the coin was worth just €0.0022.
VeChain price 2021
2021 was the absolute best year for VeChain. The market was in a bull run in Q1 of 2021 and the VeChain price benefited. The rally VeChain experienced was unprecedented, as the coin went from €0.018 to €0.25 per VET. An increase of almost 1400%. Incidentally, this was at the height of the bull market. In Q2, a big sell of took place and the price fell sharply by almost 78% to €0.057 per VET.
VeChain price 2022
In 2022, the crypto market was bearish. Due to economic developments and liqidity issues among crypto providers, the market was bearish from early 2022 to late 2022. VeChain's price fell from January's €0.091 to €0.016 (82.4%) in December.
Want more information on the VeChain price? On our VeChain price page you can find more info on the VeChain price.
Overview of VET price history
- VET price2018: Lowest - € 0,0033 / Highest - € 0,0197
- VET price 2019: Lowest - € 0,003 / Highest - € 0,0092
- VET price 2020: Lowest - € 0,0022 / Highest - € 0,0291
- VET price2021: Lowest - € 0,057 / Highest - € 0,25
- VET price 2022: Lowest- € 0,016 Highest - € 0,091
- VET price 2023: Lowest- € 0,0132 Highest - € 0,0355
Can the Vechain price become 1 euro?
It is certainly possible that the Vechain price could reach 1 euro. But most experts do not yet expect a value above €1 for the next 10 years. Experts at DigitalCoinPrice , for example, expect the Vechain price to cross the €0.40 mark in 2032. This is "only" an increase of 2000%. This shows that the experts definitely see a future in VeChain, but that the €1 euro price is still far away. Are you going to buy VeChain? Then don't assume that the VET price will reach the 1 euro in the short term.
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